l/o vegetarianism is just what JenTAM said. Lacto- is a prefix meaning dairy. Ovo- is a prefix meaning eggs. A lacto-ovo-vegetarian eats both dairy and eggs. An ovo-vegetarian eats eggs, but not dairy. A lacto-vegetarian eats dairy but not eggs. Often people use these terms only when they want to be very specific. Most of the time it's totally okay to just say "I'm a vegetarian" regardless of whether you eat eggs, dairy, both, or neither (as long as you don't eat meat).
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